Financial news

• Theresa May told to keep pledge over debt relief for poor

  21-10-2017 22:13
  Ambush by House of Lords would force Conservatives to fulfil ‘breathing space’ pledge as millions go into the red
  Theresa May is under pressure to fulfil her pledge to give people struggling with debts “breathing space” from the bailiffs as figures show that half the British population are financially vulnerable.A cross-party group of peers, including a former Tory minister, is planning to bounce the prime minister into handing those in difficulty a grace period, during w
  
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• Bombardier’s Belfast workers breathe sigh of relief after Airbus swoops in

  21-10-2017 18:08 via theguardian.com
  Takeover deal reassures staff even if the manoeuvre fails to convince US to lift punitive tariffs on order by DeltaWhat takes place at Bombardier Aerospace’s factory at Belfast is one of those everyday, patented modern miracles – and one whose success now depends on politics and business machinations continents away.Rolls of carbon fibre are cut, injected with resin and pressure-cooked and cured to form an aircraft wing. This is shipped from Belfast city docks via Liverpool and New Y
  
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• Catalonia economic chaos: Independence to push Spanish debt to 120 per cent of GDP

  21-10-2017 12:03 via feedproxy.google.com
  SPAIN'S debt would surge by another fifth to 120 per cent if Catalonia became independent, pushing the fragile economy to the brink.
  
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• 'Every year we continue to exist, it’s a surprise': is your job on the endangered list?

  21-10-2017 09:00
  With so many traditional industries under threat, from DVD rentals and black cabs to British wool – how does it feel to know your job might not exist in five years’ time?It’s been a long time since a job for life was on the horizon for many; now even a job for five years can seem like a stretch. It’s not just because more of us are choosing portfolio careers, or retraining in our 40s; whole sections of industry are disappearing. Empty shopfronts where camera stores or vid
  
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• Where can I get budget cycling gear?

  21-10-2017 08:00
  Cash flow is a bit tight – is it better to go second hand on eBay or go brand new?Every week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.This week’s question: Continue reading...
  
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• ‘We lost £120,000 in an email scam but the banks won’t help get it back’

  21-10-2017 08:00 via theguardian.com
  In another example of a growing menace, the Scotts thought they were sending money to their solicitor’s bank account. Little did they know it went to a fraudsterIt is the worst case of email intercept fraud that Money has ever featured. An Essex couple have lost £120,000 after sending the money to what they thought was their solicitor’s bank account, but which instead went to an account in Kent that was systematically emptied of £20,000 in cash every day for the next six
  
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• Tenants in England still waiting for a ban on letting agents’ fees

  21-10-2017 08:00 via theguardian.com
  Phillip Hammond announced the eye-catching move last year – but there is still no date for when it is coming into effectIt was in November last year that the government announced plans to ban letting agent fees paid by tenants. Almost a year on, there is still no date for when it is coming into effect – so how long are we going to have to wait?The eye-catching move was announced by the chancellor, Philip Hammond, in his 2016 autumn statement, and an official consultation took place b
  
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• Slow start for auto-enrolment pensions with returns of just £2,500

  21-10-2017 08:00
  Five years since its launch, figures reveal how much workers have earned from the mandatory scheme
  The first figures on investment returns from workers pushed into auto-enrolment pensions five years ago were revealed this week and can be read as a roaring success – or an indictment of how miserable a financial future most workers face in retirement.The earliest wave of employees began paying into the government-mandated schemes in October 2012, mostly staff at giant companies such as
  
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• Service charges: government to tackle rip-offs that ‘harm’ leaseholders

  21-10-2017 08:00 via theguardian.com
  Ministers plan crackdown and seek evidence on problems from extortionate costs to unscrupulous agentsRip-off service charges and unfair costs paid by leaseholders and renters were in the government’s sights this week after ministers declared there was “overwhelming evidence of the harm some people experience”.On Wednesday it announced plans for a crackdown on property agents in both the leasehold and private rented sectors. Continue reading...
  
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• Savings interest rates: shop around to beat inflation

  21-10-2017 08:00 via theguardian.com
  Savers should seek out the best rates to mitigate rising prices – it will make a big difference to their pocketsSavings interest rates have been steadily rising in recent months, and while account holders will struggle to beat inflation (which rose this week to 3%) experts claim individuals can, at least, mitigate its effects by shopping around.Figures from Savings Champion show that the average easy-access rate is paying 0.42%, compared to 1.30% at top-paying account, the RCI Bank Freedom
  
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• Pick-up fees for airport passengers rise at eight out of 20 top UK airports

  21-10-2017 08:00 via theguardian.com
  Some increased charges as much as 100% in a year while others introduced new fees, with London Luton the most expensive at £7 for 40 minutes, said RACSome of the UK’s busiest airports have sharply increased parking charges for drivers collecting passengers, a study has found. Related: Flight delays and cancellations: your rights explainedContinue reading...
  
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• One in three UK retirees will have to rely solely on state pension

  21-10-2017 08:00
  Survey by Financial Conduct Authority finds those aged over 50 are most at risk of a bleak financial futureAbout 15 million people have no pension savings and face a bleak future in retirement, according to a major survey of Britain’s personal finances published this week by the Financial Conduct Authority.The Financial Lives survey of 13,000 consumers by the FCA, the biggest of its kind, found that 31% of UK adults have no private pension provision and will have to rely entirely on t
  
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• Help to buy has mostly helped housebuilders boost profits

  21-10-2017 08:00 via theguardian.com
  A Morgan Stanley report shows the government’s subsidy has driven up the price of new-build homes – and now it is lining up another £10bnThe chancellor, Philip Hammond, is lining up another £10bn to extend the “help to buy” programme first launched by George Osborne in 2013, which has already sucked up £10bn of taxpayers’ cash. Yet a report from Morgan Stanley – not usually the type to stick the knife into a flagship government policy –
  
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